The Federal Government has secured a $238 million loan facility from the Japan International Cooperation Agency (JICA) to boost Nigeria’s national power grid.
The agreement followed high-level engagements led by President Bola Ahmed Tinubu and Minister of Power, Adebayo Adelabu, at the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan.
In a statement issued by the Ministry of Power on Friday, President Tinubu emphasised that Nigeria’s participation at TICAD9 was focused on concrete outcomes rather than diplomacy.
“Nigeria’s participation at TICAD9 was not about trade exhibitions, but about forging strategic, outcome-driven partnerships that deliver tangible results for the Nigerian people.
We are deliberately shifting from planning to implementation, from agreements to delivery, and from promises to measurable results,” Tinubu said.
The loan, supported by Federal Executive Council counterpart funding of N19.08 billion, will finance the expansion of transmission infrastructure.
The project includes 102.95km of new 330kV double circuit lines, 104.59km of 132kV double circuit lines, four 330/132/33kV substations, two 132/33kV substations, and several line bay extensions, aimed at improving efficiency and reducing system losses.
Highlighting the importance of the deal, Minister Adelabu noted that engagements with Japanese power companies such as Toshiba, Hitachi, and Japan’s Transmission & Distribution Corporation were crucial to unlocking Nigeria’s energy potential.. Continue ..Your ..Reading
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